L-SPARK 2020 SaaS Accelerator
1 company will be selected for admission into the L-SPARK SaaS Accelerator.
This 6-month intensive program, will challenge you to think about how to perfect product-market-fit, identify early adopter prospects, define your sales channels, grow your revenue, build your team, navigate government funding and help you get you “pitch ready” – introducing you to potential angels and VC’s as you raise funding.
We achieve this through tactical and strategic support, relevant workshops and a dedicated mentor (C level executive) who will join your team one day per week. We run weekly Ops Meetings with members from L-SPARK to test your assumptions, brainstorm options, and prepare you for customer and investor meetings.
Here’s how it works:
L-SPARK will narrow down applicants to a short list of 10-20. Each company will have 10 minutes to present their company live on Zoom and 10 minutes for Q&A from the judging panel.
At the end of the day, the judges will deliberate and 1 company will be selected to join the Accelerator program for 6 months.
L-SPARK is looking to accelerate Canadian startups who have a vision that matters, a large addressable market, and a prototype (if pre-revenue deep technology), or $5-10K in MRR (if a B2B or B2B2C software company). What else do we look for? Passion. Leadership. Coachability. Determination. Focus. Commitment. A healthy dose of perseverance.
The Fine Print:
There is no fee to the company to participate in this Accelerator. For Deep Tech pre-revenue companies, L-SPARK takes a 5% equity stake in the company. For revenue generating SaaS companies, L-SPARK takes a performance based 3% equity stake in the company. What we mean by performance based is, if the company raises funding during the 6 month program or in the immediate preceding 12 month period, L-SPARK has a 3% equity stake in the company. If the company does not raise funding during that 18 month window, L-SPARK has no equity stake in the company.
Deadline to apply is June 12th.
APPLICATION DEADLINE: JUNE 12th, 2020